The euro is trying to strengthen
27.04.2015
At the start of a new week, the main currency pair is attempting to continue to grow, but there are not enough catalysts.
The euro opens the new week neutrally. The EUR/USD pair is trading above 1.0800, but there are barely any reasons for optimism on Monday.
That statistics for the euro zone, which has been presented in recent days, pleased the investors. On the one hand, this could be a consequence of the cheap oil phase. On the other, the European Central Bank finally launched the program of quantitative easing in March, and it also affects the statistical data.
However, the fact that the ECB will conduct QE exactly as long as necessary for the economic recovery, in the long run will be working against European currency. The long phase of ultra soft monetary policy will not allow the euro to become dramatically more expensive.
There will not be much statistics today. During the day the focus will be on the UK, and in the afternoon the United States will present data on the index of business activity in the service sector in April.
Therefore, so far the currency market is quiet. The euro/dollar will be trading on Monday in the range of 1.0810-1.0895.
RoboForex Analytical Department
The euro opens the new week neutrally. The EUR/USD pair is trading above 1.0800, but there are barely any reasons for optimism on Monday.
That statistics for the euro zone, which has been presented in recent days, pleased the investors. On the one hand, this could be a consequence of the cheap oil phase. On the other, the European Central Bank finally launched the program of quantitative easing in March, and it also affects the statistical data.
However, the fact that the ECB will conduct QE exactly as long as necessary for the economic recovery, in the long run will be working against European currency. The long phase of ultra soft monetary policy will not allow the euro to become dramatically more expensive.
There will not be much statistics today. During the day the focus will be on the UK, and in the afternoon the United States will present data on the index of business activity in the service sector in April.
Therefore, so far the currency market is quiet. The euro/dollar will be trading on Monday in the range of 1.0810-1.0895.
RoboForex Analytical Department
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.